MPAA – 1H Long Trade Setup!📌
🔹 Asset: Motorcar Parts of America, Inc. (MPAA)
🔹 Timeframe: 1-Hour Chart
🔹 Setup Type: Symmetrical Triangle Breakout Long Trade
📌 Trade Plan (Long Position)
✅ Entry Zone: Above $10.44 (Breakout Confirmation)
✅ Stop-Loss (SL): Below $9.66 (Break of Support & Trendline)
🎯 Take Profit Targets
📌 TP1: $11.34 (First Resistance Level)
📌 TP2: $12.37 (Final Target – Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📈 Risk (SL Distance): $10.44 - $9.66 = $0.78 risk per share
📈 Reward to TP1: $11.34 - $10.44 = $0.90 (1.15 R/R)
📈 Reward to TP2: $12.37 - $10.44 = $1.93 (2.47 R/R)
🔍 Technical Analysis & Strategy
📌 Symmetrical Triangle Breakout Setup: MPAA is consolidating within a symmetrical triangle, with a breakout at $10.44, suggesting a bullish continuation.
📌 Trendline & Support Bounce: The price is bouncing off the lower trendline, confirming buyer strength.
📌 Breakout Confirmation: A strong bullish candle above $10.44 with increasing volume would validate the breakout.
📌 Momentum Shift Expected: If price holds above $10.44, a rally toward $11.34 (TP1) and $12.37 (TP2) is anticipated.
📊 Key Support & Resistance Levels
🟢 $9.66 – Strong Support / Stop-Loss Level
🟡 $10.44 – Entry / Breakout Level
🔴 $11.34 – First Resistance / TP1
🟢 $12.37 – Final Target / TP2
🚀 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong buying volume above $10.44 before entering.
📈 Trailing Stop Strategy: Move SL to entry ($10.44) after TP1 ($11.34) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $11.34, let the rest run to $12.37.
✔ Adjust Stop-Loss to Break-even ($10.44) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price fails to hold above $10.44 and breaks down, it could indicate a false breakout—exit early.
❌ Wait for a strong candle close above $10.44 for confirmation before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Holding above $10.44 could lead to higher targets.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.15 to TP1, 1:2.47 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
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